U.S. stocks fluctuated near all-time highs as traders assessed a rally that’s added more than $5 trillion to equities this year. The S&P 500 Index extended its 2019 advance to almost 30% and the Nasdaq Composite Index was little changed after jumping above 9,000 for the first time. —Josh Petri

Here are today’s top stories

Banks around the world are unveiling the biggest round of job cuts in four years as they slash costs to weather a slowing economy.

Traders braved everything from populist rage to the shale revolution. This is the tale of global markets over a decade of "fire and ice."

Shares of Saudi Aramco have shot up 10% since its record-setting $25.6 billion initial public offering earlier this month. That’s got bearish traders wondering whether they can short shares of the Gulf oil giant.

Tesla secured a tax break in China just days before the delivery of its first locally built cars, a major milestone for the company.

The man who claims he invented Bitcoin and was ordered by a judge to surrender about $3 billion of his holdings said he may not be able to do so anytime soon.

The former chairman of struggling lender Hengfeng Bank Co. has been sentenced to death by a Chinese court for making illegal gains of over $100 million.

What’s Tyler Cowen thinking about? The Bloomberg Opinion columnist says the 2010s were pretty thrilling if you liked music, books, TV or movies by or about women. 

What you’ll need to know tomorrow

• Russia rejects extending the Iran arms embargo, defying the U.S.
• China on Friday took another step towards Mars.
• Turkey to increase its presence in Libya, deploying troops to Tripoli.
• These seven trends will shape how you eat in the next decade.
• Spotify will stop selling U.S. political advertising early next year.
• Clemson is dominant on the football field, but trails rivals in earnings.
• The world's richest keep getting richer in bizarre ways.

What you’ll want to read in Bloomberg Technology

The 2020 Tech Predictions That Didn't Pan Out

Predicting the future is hard, even for the people with the most power to influence it. In 2013, Jeff Bezos said he expected Amazon would be delivering packages by drone in four to five years. Here we are seven years later and the flying delivery robots Bezos envisioned are still at the testing stage. Of course, Bezos isn't the only tech titan who failed to meet deadlines over the past decade. Here's a look back at how some of the industry’s predictions for 2020 fared.

Attendees walk past a Virgin Hyperloop One XP-1 pod outside at the 2018 Consumer Electronics Show in Las Vegas.

Photographer: Patrick T. Fallon/Bloomberg

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